CURRENT POSITION AND PERSPECTIVES

Bosnia and Herzegovina, as a multinational and multireligious country with several centuries long traditions, was, unfortunately, separated from the already begun transition processes, for known reasons. After the Dayton Agreement, this country entered a new era of its social and economic developments, in which are, in addition to others, also the problems of internal and external regionalization, as an essential aspect of these problems, still currently very controversial. The goal of this paper is to assess the further intensity of transition in Bosnia and Herzegovina, as well as the possibilities if its integration into the European economic flows. Keeping in mind the above mentioned aspects, the attempt is made in this paper to answer the key question of to what extent Bosnia and Herzegovina is an European reality or whether it is maybe only an European fiction. Key words: economic integration, Bosnia and Herzegovina, regional development, transition 1. THE PAST Early in the year 1992 Bosnia and Herzegovina emerged for many as a new European state, sprung up from the former Yugoslavia disintegration. However, for those who possess better knowledge of the history of Balkans, the statehood of Bosnia and Herzegovina is more than a millennium old wha